IDEXX Laboratories (NASDAQ:IDXX) Upgraded at Wall Street Zen

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

A number of other equities analysts have also recently weighed in on IDXX. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target for the company. Morgan Stanley raised their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Leerink Partners lifted their price objective on IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a research note on Wednesday, June 11th. Finally, Stifel Nicolaus raised their target price on IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $558.11.

IDEXX Laboratories Trading Down 0.6%

Shares of IDXX traded down $3.32 during midday trading on Friday, reaching $528.10. The company had a trading volume of 193,457 shares, compared to its average volume of 645,519. IDEXX Laboratories has a 1-year low of $356.14 and a 1-year high of $549.52. The stock has a market cap of $42.47 billion, a PE ratio of 48.84, a price-to-earnings-growth ratio of 3.89 and a beta of 1.54. The firm has a 50 day simple moving average of $520.81 and a 200-day simple moving average of $460.39. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. The business had revenue of $998.43 million during the quarter, compared to the consensus estimate of $998.25 million. During the same period last year, the company earned $2.71 EPS. The company's revenue for the quarter was up 3.6% on a year-over-year basis. Research analysts forecast that IDEXX Laboratories will post 11.93 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 1,260 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total transaction of $645,548.40. Following the transaction, the director owned 1,801 shares of the company's stock, valued at $922,724.34. This represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IDEXX Laboratories

A number of large investors have recently added to or reduced their stakes in the business. Red Spruce Capital LLC boosted its stake in shares of IDEXX Laboratories by 1.1% during the 2nd quarter. Red Spruce Capital LLC now owns 1,701 shares of the company's stock worth $912,000 after purchasing an additional 19 shares during the last quarter. Rise Advisors LLC raised its stake in shares of IDEXX Laboratories by 3.9% during the second quarter. Rise Advisors LLC now owns 562 shares of the company's stock valued at $301,000 after purchasing an additional 21 shares during the period. United Capital Financial Advisors LLC raised its stake in shares of IDEXX Laboratories by 0.9% during the fourth quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company's stock valued at $1,011,000 after purchasing an additional 22 shares during the period. Sage Mountain Advisors LLC grew its position in shares of IDEXX Laboratories by 3.8% during the first quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock worth $267,000 after buying an additional 23 shares in the last quarter. Finally, Great Lakes Advisors LLC boosted its holdings in IDEXX Laboratories by 0.9% in the first quarter. Great Lakes Advisors LLC now owns 2,567 shares of the company's stock worth $1,078,000 after purchasing an additional 23 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

About IDEXX Laboratories

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.